Inphi Corp’s shares rose to 27% on Thursday after the Wall Street Journal reported that chip manufacturer Marvell Technology was in talks to buy the California-based company for $10 billion.
An agreement may be reached until next week if negotiations fail, marking the largest merger in the semiconductor industry this week after the agreement between Xilinx and AMD.
An agreement would add to Marvell’s success in the networking industry, which has been one of the main drivers of 50% accumulation in Inphi’s stock this year, WSJ said.
Inphi closed Wednesday with a market capitalization of $5. 7 billion. Thursday’s rally showed that the shares were traded at $148 consistent with a consistent percentage in pre-market trades, but rose to around $137 after market opening.
Marvell sank by 6% on Thursday, but its stocks continue to rise 59% since the start of the year.
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Marvell mainly develops built-in circuits and supplies garage controllers for hard drives and SSDs, and intermediate knowledge workshops. Demand for garage products is increasing as the rise of knowledge continues. Its last primary operation in 2018, when it acquired Cavium for approximately $6 billion.
Inphi and Marvell did not respond to Business Insider’s requests for feedback.
Marvell closed the percentage for $39. 53 on Wednesday.
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